Cellectar Biosciences (NASDAQ:CLRB) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Cellectar Biosciences (NASDAQ:CLRB) in a research note issued to investors on Tuesday. The brokerage issued a sell rating on the biopharmaceutical company’s stock.

Several other analysts have also recently commented on CLRB. LADENBURG THALM/SH SH assumed coverage on Cellectar Biosciences in a report on Thursday, December 5th. They issued a “buy” rating and a $13.00 price target for the company. Oppenheimer restated a “market perform” rating on shares of Cellectar Biosciences in a report on Wednesday, December 11th.

Cellectar Biosciences Price Performance

CLRB opened at $0.38 on Tuesday. The stock has a market capitalization of $17.52 million, a price-to-earnings ratio of -0.22 and a beta of 0.96. The business has a 50-day moving average of $0.29 and a two-hundred day moving average of $1.12. Cellectar Biosciences has a 12 month low of $0.22 and a 12 month high of $4.17.

Institutional Trading of Cellectar Biosciences

A number of institutional investors have recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in shares of Cellectar Biosciences by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 352,452 shares of the biopharmaceutical company’s stock worth $754,000 after purchasing an additional 11,266 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in shares of Cellectar Biosciences during the 3rd quarter worth about $27,000. Bank of America Corp DE grew its holdings in shares of Cellectar Biosciences by 25.3% during the 4th quarter. Bank of America Corp DE now owns 206,783 shares of the biopharmaceutical company’s stock worth $62,000 after purchasing an additional 41,704 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Cellectar Biosciences by 687.3% during the 4th quarter. JPMorgan Chase & Co. now owns 182,403 shares of the biopharmaceutical company’s stock worth $55,000 after purchasing an additional 159,234 shares during the period. Finally, Squarepoint Ops LLC purchased a new stake in shares of Cellectar Biosciences during the 4th quarter worth about $156,000. Hedge funds and other institutional investors own 16.41% of the company’s stock.

About Cellectar Biosciences

Cellectar Biosciences, Inc, a clinical biopharmaceutical company, focuses on the discovery, development, and commercialization of drugs for the treatment of cancer. Its lead phospholipid drug conjugate (PDC) candidate is CLR 131 (iopofosine I-131), which is in Phase 2 clinical study for patients with B-cell malignancies; Phase 2a clinical study for patients with relapsed or refractory (r/r) Waldenstrom's macroglobulinemia cohort, r/r multiple myeloma (MM) cohort, and r/r non-Hodgkin's lymphoma cohort; Phase 1 clinical study for r/r pediatric patients with select solid tumors, lymphomas, and malignant brain tumors; and Phase 1 clinical study for r/r head and neck cancer.